• DTI-BOI reports a rebound in manufacturing output

The Department of Trade and Industry – Board of Investments (DTI-BOI) reported that manufacturing output has rebounded, based on recent data released by the Philippine Statistics Authority (PSA) and IHS-Markit

• Japanese pharma firms being eyed to invest in the Philippines

The Department of Trade and Industry – the Board of Investments (DTI-BOI) is eyeing some Japanese pharmaceutical firms that will invest in the Philippines. This was disclosed by Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo during the Philippine Pharmaceutical Industry Updates for Japan Webinar, organized by BOI and the Foreign Trade Service Corps (FTSC) together with the Kansai Pharmaceutical Industries Association (KPIA) on 20 May 2021.

• PH commits to deepen commercial ties with Switzerland, calls for greater utilization of FTA

The Philippines (PH) reaffirmed its commitment to expand two-way trade and investment ties with Switzerland (CH) and deepen cooperation in cleantech and renewable energy, infrastructure, life sciences, and digital healthcare sectors ahead of the fourth Joint Economic Commission (JEC) to be held this week and the 65th anniversary of PH-CH diplomatic relations next year.

• DTI-BPS reactivates Technical Committee on Plastics and Plastic Products

The Department of Trade and Industry – Bureau of Philippine Standards (DTI-BPS) reactivated its Technical Committee (TC 45) on Plastics and Plastic Products primarily in anticipation of House Bill No. 9147 mandating the DTI-BPS to develop and promulgate the appropriate Philippine National Standards (PNS) for compostable plastic products.

• Emperador now available in Indonesia

Jakarta reported that Emperador is now available in Indonesia after months of discussion with importing entities, bringing the taste of proudly Filipino-made alcoholic beverage to the largest Association of Southeast Asian Nations (ASEAN) economy.

• PH pushes for inclusive economic growth in ASEAN post-pandemic recovery efforts and engagement with external partners

The Second Meeting of the Association of Southeast Asian Nations (ASEAN) Senior Economic Officials for the Fifty-Second ASEAN Economic Ministers’ Meeting (SEOM 2/52) and Dialogue Partner Consultations with Canada, China, India, Japan, South Korea, and the United States of America (USA) were held via video conference on 8-10 June 2021 and 14-15 June 2021, respectively.

• PH chairs ASEAN Task Force on Wood-Based Products

The Philippines, through the Department of Trade and Industry’s Bureau of Philippine Standards (DTI-BPS), chaired the 17th Meeting of the Task Force on Wood-Based Products (TFWBP) last 21 May 2021 via video conferencing. Engr. Myra Magabilin, Supervising Trade-Industry Development Specialist of the BPS Standards Development Division (SDD), led the meeting while Mrs. Pattaraporn Krongyuth, Standards Officer of Thai Industrial Standards Institute (TISI), Thailand served as the vice-chair

• Alibaba Cloud building first data center in PH

Filipino professionals in the digital technology industry can expect employment opportunities as Alibaba Cloud, the digital intelligence backbone of Alibaba Group, eyes to build its first data center in the Philippines by the end of this year.

• FTAs open more overseas prospects for PH construction industry

Department of Trade and Industry (DTI) Secretary Ramon Lopez said the country’s free trade agreements (FTAs) have opened more opportunities overseas for Philippine construction industry.

• CA confirms Chua as NEDA secretary

The Commission on Appointments confirmed Wednesday the appointment of National Economic and Development Authority Secretary Karl Kendrick Chua, a month after he was officially appointed by President Rodrigo Duterte.

• DTI finalizing P3-b perks for electric vehicle manufacturers

The Department of Trade and Industry said Wednesday it is finalizing P3 billion worth of incentives for manufacturers of Euro-4 and electric public utility vehicles.

• BOI cites improvement in manufacturing sector

The manufacturing sector began to show an improvement in April and May, based on the results of two surveys, the Board of Investments said Thursday.

• Foreign investments rose 45% to $2.4b in 1st quarter

Net inflows of foreign direct investments jumped 140 percent in March to $808 million from $337 million a year ago, on improved sentiment following the rollout of COVID-19 vaccination program and the gradual resumption of domestic activities, the Bangko Sentral ng Pilipinas said Thursday.

• Dominguez, Diokno encourage firms to invest in digitalization, innovation

Finance Secretary Carlos Dominguez III on Monday asked local businesses to invest heavily in digitalization and innovation to stay competitive as the world rapidly transitions into a post-pandemic global economy.

• Imported vehicle sales up 59% in five months

The Association of Vehicle Importers and Distributors Inc. said Wednesday sales by member-companies jumped 59 percent in the first five months to 25,217 units from 15,811 units a year ago.

• PH dips 7 places in 2021 competitiveness ranking

The Philippines dropped seven places in the IMD World Competitiveness Ranking 2021 on poor economic performance amid the pandemic, the IMD World Competitiveness Center of Switzerland said Wednesday.

• PH to be removed from list of ‘harmful’ tax regimes by 2022

The Department of Finance said Thursday the provisions in the Corporate Recovery and Tax Incentives for Enterprises Act eliminating the preferential tax rates given to regional operating headquarters of multinational corporations cleared the way for the Philippines’ removal by January 2022 from an international list of “harmful” tax regimes.

• BOI green-lights P35-m investment of local Hidrobag manufacturer in Baliuag, Bulacan

The Board of Investments said Tuesday it approved the application of OIKOS Sustainable Solutions Inc. to manufacture eco-friendly and sustainable Hidrobags.